Scholar Rock Holding Corporation (NASDAQ:SRRK) traded higher on Friday after the biotechnology company posted quarterly results and outlined updated financial resources and capital plans.
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Scholar Rock said it recorded a quarterly loss of 90 cents per share. The company did not report revenue for the period, consistent with the same quarter last year.
Management said research and development costs rose as it advanced commercial manufacturing and launch preparations for apitegromab, its lead program.
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R&D and Administrative Costs Increase
The company reported $50.5 million in research and development spending for the third quarter, driven by manufacturing investments and higher employee-related expenses.
General and administrative expenses climbed to $53.1 million due to headcount growth, stock-based compensation, professional service fees and one-time severance costs linked to launch planning.
Cash Position Supports Multi-Year Operating Plan
Scholar Rock ended the quarter with about $369.6 million in cash, cash equivalents and marketable securities.
The balance included proceeds from a recent equity sale and a debt facility draw. The company said the cash runway, along with potential warrant proceeds, should fund operations into 2027.
Company Expands ATM Program
Scholar Rock also filed a prospectus supplement to add up to $200 million in potential common stock sales to its existing at-the-market program. The filing allows the company to issue additional shares through Jefferies as needed.
The company noted that any sales would depend on market conditions and board approval.
Scholar Rock said operating investments reflect its focus on preparing apitegromab for potential commercialization.
The company emphasized ongoing work across infrastructure, manufacturing and regulatory functions as it advances its launch strategy.
SRRK Price Action: Scholar Rock Holding shares are trading higher by 23.68% to $37.19 at publication on Friday.
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